After Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS) on September 15, transaction fees on the blockchain network were 10 days ago and are much lower than they were Almost four months ago, on May 13, 2022, high priority Ether transactions cost 68 gwey, or $2.97 per transaction; today at $0.18, high priority Ether transactions are 93% cheaper.
Ethereum fees remain low after the merger
Transaction costs on the Ethereum network are cheaper post-merger, with high priority transactions on September 17, 2022 aboutaccording to etherscan.io’s gas tracker. 8 gway, or $0.18 per transfer. 12 days earlier, on September 5, high prioritywasfor ETHtransfers of 14 gwei or $0.47per transfer.
According to etherscan.io’s fee index, today’s transaction fee forETHis
14 gwei or$. ETHtransaction fees are over 61% lower than they were 12 days ago. Additionally, Ethereum’s recent change from PoW to PoS has also caused some fee aggregation web portals likebitinfocharts.comto publish incorrect fee data.
$0.5888 per transfer, data fromycharts.comshows that average Ethereum (ETH) fees have also declined since The Merge took place. This metric shows the average transaction fee on theETHnetwork in September: on September 14, the fee was $0.6293 per transaction on the ETHnetwork; on the day of The Merge, the fee rose to $0.9812 per transaction.
Ethereum Gas fees are also 93% lower than they were four months ago on May 13, 2022, with Ycharts.com statistics showing that the average fee on May 13 was $1.37, 57.66% lower than the current average fee of $0.58 per transfer. The average commission is.
archive.orgdata from etherscan.io’s gas tracker also shows that ether’s fees were much higher 127 days ago in mid-May. At the time, a high priority transaction was $2.97 per transfer, 68 gway to simply send ethereum, whereas today a high priority transfer is $0.18.
Today, etherscan.io’s gas tracker shows the sale of Opensea at $0.61, compared to $28.58 four months ago; the Uniswap decentralized exchange (dex) swap cost $1.58 on September 17, while on May 13 was approximately $26.07.
Sending ERC20 tokens like tether (USDT) and usd coin (USDC) is also cheaper today at $0.46 per transaction. However, 127 days ago, it cost users roughly $7.65 per transaction to send ERC20-based coins.
As Bitcoin.com News reported numerous times in 2022, Ethereum’s data fees have been steadily dropping since mid-May. Data from the post-merger aftermath shows on-chainfees for ETHhave remained low.
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